Update: NET, KAM, MYA & New Stock Pick: V:MXR Max Resources
Network Exploration (NET:TSX Venture, 0.06) continues to trade in a very tight range, maintaining high liquidity with 20 million shares traded this month. As two cheap private placements have recently come free trading, the liquidity was expected. To see NET maintain the 0.06 level in spite of a glut of new supply is highly encouraging. It signals a high degree of accumulation to absorb cheaper stock, creating a solid technical base. On the fundamental front, we eagerly await assays from the recent drifting program on the La Blanca gold target. As this target has only been previously mined from the surface, it’s an exciting prospect to look for the source of surface gold. A discovery just in this area has the potential to send shares of NET multiples higher. It’s important to remember that Caldera is a multi-prospect property with a large amount of exploration ahead as the company continues striving to understand the extent of the property’s potential. We believe NET will continue climbing on steady accumulation as market awareness broadens, in time with the advancement of the Caldera project.
Kaminak Gold (KAM:TSX Venture, 0.50) The company announced plans for a 5,000 meter drill program in the Spring of 2010. Recent chip and trenching samples continue to outline extensive high grade showings throughout their Yukon property, located in the vicinity of Underworld Gold’s White Gold discovery. Early exploration has been successful enough to maintain a $20 million market cap, which typically means the market is optimistic on the project. Our strategy will be to accumulate KAM on weakness in anticipation of the Spring drill program. In the meantime, KAM is also exploring a highly prospective gold-silver property in B.C. (Cry Lake), with drill results due out soon.
Maya Gold (MYA, 0.48) MYA continues to get accumulated in anticipation of results from a significant 7,500 meter drill program which has just commenced. The company plans on drilling into several high grade showings, to better define the structure. We are accumulating KAM on weakness.
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Max Resources (MXR:TSX Venture, 0.32) MXR has recently completed a 1,200 meter drill program designed to test several areas on their Crowsnest property featuring visible gold in trench samples. This is the first time these targets are being drill tested. The company is very well financed, with $3.6 million in the treasury and Only 21.7 million shares outstanding, this is an attractive stock at current prices, as any new discovery zones on the property will add significant market value to the company.
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